ICAS seeks RPB status
Article Abstract:
The Financial Services Act of 1986 makes it unlawful for any service group to provide investment advice or financial analysis services in the United Kingdom without first being registered with the Securities and Investments Board as a recognized professional body (RPB). Because members of the Institute of Chartered Accountants provide financial investment advice, the Institute has applied for RPB status. Other professional societies and associations in Scotland and Britain that are likely to apply for RPB status include: the International Securities Regulatory Organisation - Stock Exchange; the Investment Management Regulatory Organisation; the Life Assurance and Unit Trust Regulatory Organisation; the Association of Futures Brokers and Dealers; and the Financial Intermediaries, Managers and Brokers Regulatory Association. Also discussed are: RPB status rules; projected approval times for RPB status; how RPB status will affect the activities of the associations and their members; RPB status monitoring; the costs related to complying with RPB rules; the procedures related to RPB applications; and RPBs' authorizations of individual members to provide financial service.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1987
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SIB rules and policy proposals
Article Abstract:
The British Securities and Investments Board has proposed new rules governing three areas of security trading: (1) fee structures for brokers and intermediaries; (2) establishment of a single compensation fund for financial service industry participants to be administered by a limited corporation to be known as the Financial Services Compensation Scheme Manager Ltd.; and (3) creation of the position of financial services ombudsman. These proposed new regulations are intended to meet the requirements stipulated in the recently enacted Financial Services Act. The proposed new rules are described.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1987
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Self regulation - have they got it right?
Article Abstract:
New controls imposed by the Financial Services Bill allow for the self-regulation of financial services sector. The Fraudulent, insolvent, and dishonest are the targets of the new bill, which seeks to implement new and high standards of conduct for stock exchange investors. New plans of the Securities and Investment Board are examined.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1986
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